Germany will spend 65 billion euros on a third package of measures designed to protect consumers and businesses from the effects of skyrocketing inflation, according to a government document published Sunday, Reuters reported.

The measures, which include proposals to extend reduced fares on public transportation and 1.7 billion euros in tax breaks for 9,000 energy-intensive companies, were agreed by the three parties in Chancellor Olaf Scholz's ruling coalition on Sunday.

This is the largest of the three packages so far, Scholz said at a news conference.